An Islamic Republic in Egypt could shut down the Suez (OPEC be damned or not) and oil prices around the world, even in Canada with the Albertan oil sands, would skyrocket out of control.
Domestically, we would have to deal with strengthening Albertan seperatists who would complain about most of the income from their oil boom benefiting the east.
Internationally, NATO would have to deal with a modernizing Russia benefiting from an oil boom and Islamic Republics in the Middle East forming in Egypt, Saudi Arabia; et al.
The United States' petro dollar would increase, sounds good in theory but in reality it means those treasury bills are worth more in real debt and the US's current military cutbacks (including the cancelled F-35) would be expanded to include other projects.
Non-oil producing countries, even China, would have their economies slow down as a result of an increase in oil prices.
It seems that the U.S., Israel or Europe would be forced to seize the Suez or see a change in the current world order.
Domestically, we would have to deal with strengthening Albertan seperatists who would complain about most of the income from their oil boom benefiting the east.
Internationally, NATO would have to deal with a modernizing Russia benefiting from an oil boom and Islamic Republics in the Middle East forming in Egypt, Saudi Arabia; et al.
The United States' petro dollar would increase, sounds good in theory but in reality it means those treasury bills are worth more in real debt and the US's current military cutbacks (including the cancelled F-35) would be expanded to include other projects.
Non-oil producing countries, even China, would have their economies slow down as a result of an increase in oil prices.
It seems that the U.S., Israel or Europe would be forced to seize the Suez or see a change in the current world order.